44ADA with F&O Loss. Tax Audit Query.

Rahul Pawar (Assistant) (28 Points)

29 July 2024  

Assessee has Following Incomes

Salary: 1000000

44ADA Turnover: 1500000 and Profit Shown: 975000

 

F&O Turnover: 1400000 and Loss: 350000

 

Can Assessee opt for 44ADA for profession and Prepare books for F&O Loss. Whether Tax Audit Applicable?